Intel to buy Mobileye’s self-driving car firm for $15 billion

After a run of the rumour mill, Intel have finally confirmed that they have plans to acquire Mobileye, a company that has worked with Tesla and BMW, specialising in self driving cars.

The Israeli firm will be bought in a deal currently valued at $15.3 billion and will push Intel’s self-driving car efforts forward by a fair bit.

The partnership between Intel and Mobileye is not necessarily a new partnership. They have worked together in the past, putting together around 40 autonomous vehicles for testing on public roads later this year in both Europe and the US. At this moment, Intel is estimating that the vehicle systems, data and service market will hit around $70 billion by 2030. It’s not surprise they’ve jumped straight on to that bandwagon.

Speaking about the deal, Intel’s CEO, Brian Krzanich said that the acquisition of Mobileye will “bring together the assets of Intel’s Xeon processors, FPGAs, 3D XPoint memory and 5G modems with the world leader in automotive computer vision”. He also described the move as merging the “intelligent eyes of the autonomous car with the intelligent brain that actually drives the car”.

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